Pamela's average annual percentage gain was = 7.7%
Calculation of annual percentage gain
The start up capital (P) = $10500
The simple interest (SI) = $3250
Time (T) = 4 years
Rate = ?
But SI = P × T × R /100
Make R the subject of formula,
R = SI × 100/P × T
R = 3250 × 100/ 10500 × 4
R = 325000/ 42000
R = 7.7%
Therefore, Pamela's average annual percentage gain was = 7.7%
Learn more about simple interest here:
https://brainly.com/question/25793394
